The cryptocurrency market lost around $12 billion, a further day in the red. Bitcoin’s price is dropping below $19,000 while major altcoins are falling.
Overall, the mood is very dark. For a few days consecutively, indicators are flashing extreme fear signs.
Bitcoin Price Struggles at $19,000
The BTC price currently trades at $19,000 and is struggling to keep above that mark.
Source: TradingView, Binance
The cryptocurrency has fallen 0.6% over the last 24 hours, but an even steeper 5.8% over the past seven days, which highlights the uncertainty in the market.
BTC has not produced any significant movement in the past day. This is an indication of a bear market. Bitcoin’s dominance, the metric that measures its share relative to the whole market, is up 0.5% over the last day. This is a significant change.
This is a sign that altcoins have lost ground over the past year.
Cardano (ADA) Tumbles 9%
Cardano is slightly down by 9% as of the time this article was written. The majority of altcoins are in red. XRP has also suffered a significant drop of around 7%.
Source: Quantify Crypto
Other major cryptocurrency, like Solana and Dogecoin are also down around 5%. Klaytn’s KLAY token is the worst performer, down 14%; followed by LDO down 10.6%.
Huobi Token (HT) was the cryptocurrency that gained most in the last 24 hours, up more than 9%.
The overall market sentiment is still negative and “extreme fear” in the broader context.
For a few more days, this fearful sentiment has been lingering. Even though it hasn’t got worse, it is a clear indication of the ongoing crypto winter.
CryptoPotato’s first post, Cardano (ADA), tumbles 9% and Crypto Suffers another Red Day: Market Watch appeared on CryptoPotato.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.